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@Mrs. High Heels: Thank you! That's very helpful.
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@Smurfette: I reconcile my accounts everyday by logging into each of my on-budget accounts. It's what I do each morning. It's not for everyone, but I prefer to do it this way than log transactions through the iphone app. My husband doesn't log his transactions either - I do it all just by looking at our credit card statements.
@.twist.: I didn't exactly find the article, but I did find this comment from him:
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@Smurfette: Article about having multiple accounts - http://www.youneedabudget.com/blog/2010/trust-your-budget-and-close-some-accounts/
The comments are great too.
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@Smurfette: I didn't say that right. I guess I do look at the numbers, I just don't think about what they mean
Like TWIST said, everyone budgets differently, but this is what works for us.
We enter (almost) every transaction through the app. Once a week, I enter the bank account balance, match the cleared transactions with what's in YNAB, and hit the "reconcile" button (that locks the transactions in YNAB). I don't think about what the bank account number means - YNAB already has it allocated into my categories.
Your DH will either need to enter the transactions as he makes them (the app makes it SO easy), save receipts and enter them into the program, or go through your transaction history or statement and enter them into the system.
But the general process of YNAB is to sit down when you get income and budget it into your different categories.
BEFORE you make a purchase, you should look at that individual category and decide if you have the money available and want to use it for this specific purchase.
If you decide to buy it, you log it and your category balance drops.So on a day-to-day basis, you make your buying decisions based on what you budgeted to the category.
I don't think I'm explaining this well. You should try the free trial and see if it works with you and your husbands.
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@.twist.: I ask him how was everything when say he goes to Home Depot and he is like $20 and then it was $35 out of the account.
@TemperanceBrennan: yeah I think I am going to hold off buying it for now and do the trial first and see if it will work for us.
@Mrs. High Heels: Interesting! I don't see multiple accounts as a bad thing. I like having the separation. -
@Smurfette: No, not a bad thing - whatever keeps you on track with your budget is a good thing! Not one size fits all. Just wanted to show you their reasoning behind things.
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@Smurfette: Would talking to him about being a little more serious about your budget be an option? While I do think it's important for both parties to be on board with the budgeting, it's not impossible to do it if one person just isn't into it. I have read quite a number of threads on the YNAB forums where the partner doesn't care as much as the budgeter.
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@.twist.: We both are getting serious about it. I asked him about the software last weekend and he didn't want to pay for anything. But we both know that we have to do something. We are going to sit down this weekend and really go over everything. He really likes Mint. He also created a sweet Excel spreadsheet but I thought that it was too confusing to use on a day to day basis. Cause it would group amazon under household exp when it might have been a gift.
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@Smurfette: They did a series on the blog about getting your spouse on board:
http://www.youneedabudget.com/blog/2014/7-steps-to-getting-your-spouse-on-board-step-7/ -
@Mrs. High Heels: thanks! I don't know that I'll be able to convince DH, but I'll try. I'd rather have one account, but oh well!
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@.twist.: So, in order to use money that has rolled over, you have to negative out some of the money from the account? Or all of the money in that account?
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My DH is on board but I think he's got some things to learn, I've heard it's not in the budget 10 times in the last 4 days but it is I made sure it was. He thinks it's going to be horrible when really we are just being more conscious of where our money is going instead of just free-for alling it. <rant over ;)>
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@Espion: I don't think you have to negative out anything. If you create a transaction to come out of that category, any money in that category, budgeted or balanced (rolled over money), will just be deducted from that category.
Does that help, or did I confuse you more?
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@jetsa: haha! Does he use the app? Is he checking the balances in the categories he wants to spend money from?
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@.twist.: we aren't actually starting until Friday bc that's when we get paid but he has the app although idk that he's opened it yet. I think he's discovered it annoys me so now it's fun
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@Espion: You don't have to negative out anything. When money rolls over it just keeps adding up.
Example:
You have $10 left over in the groceries category for August. In September, you budget $500. Now you have $510 to work with for your September groceries budget.***
The only time you really need to negative out a category is when you create a separate category to save up for your buffer, or some other reason where you want to set money aside but haven't assigned it a specific job. I used to have a buffer category, but now that my buffer is built I renamed that category to deferred savings. I put all our dependent care checks in this category because I don't want to touch that money unless it's for childcare related expenses. I usually free up that money when there are month's that have 5 weeks worth of childcare costs instead of the usual 4 (like September). -
Well, I did it. I purchased the app. DH has been hounding me for years to budget with him and I was too stubborn to think I needed to. I tried the app for a couple days and I am pretty addicted. I am hoping to save some serious dollars now
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The founder of YNAB is doing a reddit AMA (ask me anything) today if anyone is interested!
http://www.reddit.com/r/ynab/comments/2fh07v/hi_im_jesse_mecham_founder_of_ynab_ama/
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@Mrs. High Heels: woah! That's cool, thanks!
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@Mrs. High Heels: thanks for posting! very cool!
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@Mrs. High Heels: so cool thank you!
So another question, until we get our buffer I need to have a buffer category right and we just put back extra there each month?
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@Lindsay05: Congrats and good luck!
If you have any questions, you know where to come.
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@jetsa: Yes. The idea is that for the first few months of YNAB you you only live on what you need to and put the rest towards your buffer. The faster you get to Rule #4 the better. Although, I realize that's not entirely as easy to put into action as it is to talk about. So, I'd say as long as you're working towards getting one months worth of income into that buffer category, you're on the right track.
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@Lindsay05: yay, welcome!
Did anyone ask questions on the AMA? Some of the questions sound hellobee-ish!
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@Mrs. High Heels: I TOTALLY DID.
hahaha did you pick mine out?? Did you!?
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@.twist.: hahah omg you did!!! i knew it! do you want me to copy and paste which one I think might be yours?
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@Mrs. High Heels: hahaha yesssss.
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@.twist.: I hope I'm right! (And if I am... cute username hahaha)
Hello! Just wanted to say that I LOVE YNAB. I've been using it since February and have slowly watched some of our debt go down. I love being involved with my money.
Question: I read somewhere, and cannot find it any more, about keeping one chequeing account for your main "on-budget" account, and how using a high interest savings account for rainy day fund-like categories isn't necessary. Can you expand on this? My husband really wants any "savings" to go into a high interest savings account, and I personally, don't mind it all in one place. -
@.twist.: I'm tempted to respond with... "do you know you have a cult following on hellobee?" and link him this thread
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@Mrs. High Heels: got me! Yea, I was hoping he'd expand a bit more, or have some more to say about it. I, mean, ultimately, I was satisfied with his response. I kinda wish there was more about NOT having multiple accounts. Husband 1: .twist. 0. LOL
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@Mrs. High Heels: DO IT.
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@.twist.: @Mrs. High Heels: now i think i know which one too!
ETA: i was right.
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@Mrs. High Heels: oh and as a result of the convo about accounts, i moved all the special savings into checking since it's the same rate and moved longer term savings (but not my emergency or home fund) into one larger account that gets a higher rate. much cleaner. had to change my perspective about it.
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@birdofafeather: Nice!!! I closed 4 ING savings accounts when I first started YNAB. I had to change my mindset too - wasn't easy.
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@Mrs. High Heels: yeah, it was kinda a bummer when i realized that my $350 i had saved for christmas gifts (in that particular savings sub account) was really only $100 because the money had other "jobs" but i think this will help me stick to my budgets so i don't "lose" my short term savings goals.
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OMG....I am so addicted. Downloaded it last night. I woke up to pump in the middle of the night, and started watching a youtube video for some tips. Now I can't go to sleep....lol.
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2 more questions: Can you split transactions in the app? (ETA: I figured it out!).
Does the payee you use in the app need to match what your bank says?
@DisneyBee: me too. I've never been excited to budget before and my DH is 100% on board for the first time ever (thanks to the iphone app)
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@jetsa: nope, they don't need to match. I try to keep the close just so, if I have to go back for some reason, I can find them easily.
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What does the green "C" mean on the right hand column when you click on your accounts? You can turn the green color on and off. I don't get it.
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@DisneyBee: It's so easy to get addicted! The green C means to clear a transaction. For example, sometimes you add transactions in your phone, but it hasn't cleared in your statement yet. Once both are cleared the account is considered "reconciled" (where both the number in your YNAB and your statement match).
On the very bottom right you'll see "cleared balance + uncleared transactions = working balance" << that's where you'll see what's been cleared vs. what hasn't been cleared.
hahaha did you pick mine out?? Did you!?
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